Ossiam Trims Stock Position in Coinbase Global, Inc. $COIN

Ossiam trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 29.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,347 shares of the cryptocurrency exchange’s stock after selling 18,209 shares during the period. Ossiam’s holdings in Coinbase Global were worth $15,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COIN. Cadent Capital Advisors LLC increased its position in shares of Coinbase Global by 1.0% during the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after purchasing an additional 30 shares in the last quarter. Ameriflex Group Inc. boosted its stake in Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after purchasing an additional 30 shares during the period. Pettinga Financial Advisors LLC increased its stake in Coinbase Global by 2.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after purchasing an additional 34 shares during the period. StoneX Group Inc. raised its holdings in shares of Coinbase Global by 1.8% in the second quarter. StoneX Group Inc. now owns 1,970 shares of the cryptocurrency exchange’s stock valued at $690,000 after buying an additional 34 shares during the last quarter. Finally, Evelyn Partners Investment Management Europe Ltd boosted its stake in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 36 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In related news, insider Lawrence J. Brock sold 5,902 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $250.58, for a total value of $1,478,923.16. Following the sale, the insider directly owned 497 shares in the company, valued at $124,538.26. The trade was a 92.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jennifer N. Jones sold 1,787 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $244.49, for a total transaction of $436,903.63. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 728,971 shares of company stock valued at $225,494,313 in the last 90 days. 16.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark restated a “buy” rating on shares of Coinbase Global in a research report on Friday, October 31st. Mizuho boosted their target price on Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Wall Street Zen downgraded Coinbase Global from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, Argus reaffirmed a “hold” rating on shares of Coinbase Global in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $396.94.

Coinbase Global Stock Performance

Shares of COIN opened at $269.73 on Monday. The company has a market capitalization of $72.73 billion, a PE ratio of 23.33 and a beta of 3.69. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a 50-day simple moving average of $315.13 and a 200-day simple moving average of $318.76. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 55.1% compared to the same quarter last year. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.